Entry Instance

HTTP 200 OK
Allow: GET, PUT, PATCH, DELETE, HEAD, OPTIONS
Content-Type: application/json
Vary: Accept

{
    "id": 1512267,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1512267/?format=api",
    "text_counter": 638,
    "type": "speech",
    "speaker_name": "Kikuyu, UDA",
    "speaker_title": "Hon. Kimani Ichung’wah",
    "speaker": null,
    "content": "THAT, Clause 36 of the Bill be amended by deleting the proposed new sub- section (5) and substituting therefor the following — “(5) The incentives and tax benefits granted to a licensed special economic zone developer, operator or enterprise under this Act or any other written law shall apply for a period not exceeding ten years from the date of issuance of the licence, notwithstanding any changes in this Act or any other written law.” Hon. Temporary Chairman, this is just to ensure that operators, investors and developers in Special Economic Zones are first guaranteed that they will not be disrupted in the course of the term that they have invested for a period not exceeding ten years, for all the tax incentives that they have been granted by the Government will be sustained for a period that will not exceed 10 years. This is just to guarantee investors and attract more investors into the Special Economic Zones. Members, we realise that we have too many Economic Zones where investors have failed to invest because of uncertainties as to whether the incentives they enjoy will continue to be. This is because they imagine that every Finance Bill may make changes that will remove their incentives. We are guaranteeing them that for a period that will not exceed ten years, they would be guaranteed of those incentives. I beg to move."
}